When is the right time to buy Real Estate:

 Most people wait until a market is really hot to buy a property. After unsuccessfully bidding for a few properties buyers are willing to pay almost anything for the next property they like for fear of loosing it. Unfortunately that is the wrong time to buy. Usually during the "hot period" product selection is at its worst and prices are non negotiable.

 So it is now a good time to buy?

Although none of us have a crystal ball and we definitively have an excess inventory, the excess inventory is not in all areas of the country, state, county, city or neighborhood. Most of us have a place where we can live, usually it is close to our work, a good school for our kids, a place we can walk at night and therefore we are not as flexible as we think we are.

We are not building barely any home sin many areas of town and in some areas we are not building that many new condos. Even in the areas that are very desirable like Coral Gables, Aventura, Sunny Isles, Bal Harbour, there is some condos on the way but at prices that are a lot higher than existing condos.

TO answer the question is this a good time to buy, I would say it is, even if you are buying in an overbuilt area like Brickell and downtown. Right now Mr and Mrs Buyer you get the red carpet wherever you go but do your research, prepare yourself by going to a good Mortgage Broker to get prequalified and then use a great Realtor that has integrity, knowledge and it is professional and start making offers.

 Florida is still the dream retirement location for many Americans, many South Americans and many other people from the rest of the world. Yes our prices went up to fast and they have come down to more realistic prices but they will not continue to go down in many areas.

South Florida has run our of land & finding tracks of land to built has become very expensive, we are mostly doing redevelopment. Owners of land we still have available know that it is a matter of time before they will sell it at top price and as long as they can hold it, they will wait, wouldn't you when you own a limited resource?

 We have great wheather even with the real treat of Hurricanes. We continue to have job growth and continue to attract young people from all over the US, including California and New York, we are probably one of the best places in the world to have a small business. We have world class sports, beaches, restaurants, bars, clubs, Theatres (we just need a NY that dares to bring a ro style to Miami - Perhaps now that the market slowed down the owners of Midtown decide to undertake this big task! (Hope you guys are reading).

We have more direct flights to Latin America, Asia and Europe than any other city in the US and we are the biggest Port (Miami and Fort Lauderdale combined) for cruising.

We are a world class city (with not enough public transportation POLITICIANS wake up please! we need it!!), we will continue to attract people and our market will stabilize very soon, get ready to buy now, don't wait until availability is low again and prices go up, right now we the Realtors will open the red carpet for you and the sellers will listen to you and work with you. We are already to serve you, don't miss this golden opportunity to own, rent is not the solution, it is just a temporary relief and most of us do not have the discipline to save the difference between owning and renting! With time your property will appreciate it and will more than compensate you for buying vs renting. Waiting will cost you because none of us can know for sure when we reach buttom, we just see good deals that are hard to pass up due to the temporary weakness of the market. 

For further discussion, questions about specific areas, referral to a good Mortgage Broker or a good Realtor, contact the JKahr Team  at  EWM 305-394-9662 or write to team@jklahr.com.

If you are a Realtor and like a free listing in our web site LuxuryWaterfronts.com, contact us at realtors@jklahr.com